Gullewa’s Increased JV Control and Capital Moves Pose Execution Risks
Gullewa Limited has increased its joint venture interest to 98.4%, initiated diamond drilling at its South Darlot Gold Project, and appointed a seasoned mining executive to its board, signalling a strategic push forward.
- Increased beneficial interest in Hunter Valley Solutions JV to 98.4%
- Commencement of diamond drilling program at South Darlot Gold Project
- Appointment of Paul Richardson as Non-Executive Director at Central Iron Ore
- Receipt of $881,066 royalty payment from Vault Minerals
- Intention to fully participate in Central Iron Ore’s recent rights issue
Gullewa’s Growing Footprint in Hunter Valley
Gullewa Limited has taken a significant step in consolidating its position within the Hunter Valley Solutions joint venture, increasing its beneficial interest to 98.4% during the December quarter. This move follows the finalisation of negotiations for the construction of 13 blocks, with work commencing in January 2026. The near-total ownership underscores Gullewa’s commitment to advancing its property development ambitions in this region.
Leadership Strengthened with Industry Veteran
In a strategic governance update, Central Iron Ore Limited, in which Gullewa holds a 57% stake, appointed Paul Richardson as a Non-Executive Director in October 2025. Richardson brings over four decades of mining and mineral processing expertise across a diverse range of commodities including gold, nickel, and copper. His extensive operational background is expected to provide valuable insight as Central Iron Ore progresses its exploration and development activities.
Advancing Exploration at South Darlot
Central Iron Ore has also made notable progress at the South Darlot Gold Project in Western Australia. An independent technical report, prepared by respected industry expert Andrew Bewsher, was filed in late 2025, updating the mineral resource estimates for the British King Gold Project. Following this, an 802-metre diamond drilling program comprising eight holes has commenced, aiming to validate and potentially expand the resource base. The outcomes of this drilling campaign will be closely watched by investors seeking clarity on the project’s future potential.
Royalty Income and Capital Raising
On the financial front, Gullewa received a royalty payment of $881,066 from Vault Minerals for the December quarter, providing a steady income stream. Meanwhile, Central Iron Ore launched a rights issue in December 2025, offering shareholders the opportunity to purchase shares at CAD 7.2 cents along with warrants exercisable until 2030. Gullewa has confirmed its intention to fully subscribe to this offer, signalling confidence in Central Iron Ore’s growth prospects and a readiness to support ongoing capital requirements.
Looking Ahead
Beyond these developments, Gullewa is actively exploring additional projects to diversify and strengthen its portfolio. The company’s recent moves reflect a balanced approach of consolidating existing assets while seeking new opportunities in the mining and resource sector.
Bottom Line?
Gullewa’s strategic acquisitions and exploration efforts set the stage for a pivotal year ahead in resource development.
Questions in the middle?
- What will the diamond drilling results reveal about the South Darlot resource potential?
- How will Gullewa’s increased JV stake impact its operational control and future earnings?
- What are the financial implications of fully participating in Central Iron Ore’s rights issue?
